Jacquet Metals (JCQ) Q1 2026 earnings summary

Executive summary

• Q1 2026 sales reached €502m, down 1.7% year-over-year, with volumes up 0.8% and negative price effect amid persistent geopolitical uncertainty, especially in the Middle East.

• Gross margin improved to 24.7% from 23.4% in Q1 2025, and EBITDA rose to €29m (5.7% of sales), up from 4.8%.

• Net income (Group share) increased to €9m, up from €2m in Q1 2025.

• Gearing rose to 25% from 21% at 2025 year-end.

• The Board will propose a €0.2 per share dividend at the June 2026 General Meeting.

Financial highlights

• Sales: €502m, down 1.7% year-over-year, with a 0.8% volume increase and 2.4% price drop.

• Gross margin: €124m (24.7% of sales), up from €119m (23.4%).

• EBITDA: €29m (5.7% of sales), up from €24m (4.8%).

• Adjusted operating income: €20m (3.9% of sales), up from €14m (2.8%).

• Net financial expense decreased to €5m from €6m year-over-year.

Outlook and guidance

• Ongoing organic growth projects in Spain, the US, and China.

• Market conditions expected to remain similar with reduced visibility; focus on tight financial management and continued investment.